Hasbro, Inc. - HAS STOCK NEWS

Hasbro reported Q3 2021 revenues of $1.97 billion, up 11% year-over-year. Entertainment segment revenue surged 76%, while Wizards of the Coast and Digital Gaming increased 32%. Consumer Products experienced a 3% decrease. Operating profit rose 9% to $367.9 million, with net earnings growing 15% to $253.2 million, or $1.83 per diluted share. The company maintained strong cash flow, with $685.6 million in operating cash flow and $1.18 billion in cash at quarter-end. Debt repayment totaled $400 million, supporting its solid financial position.

Hasbro announces the passing of Brian D. Goldner, the beloved Chairman and CEO, who led the company for over two decades. Under his visionary leadership, Hasbro evolved into a global play and entertainment powerhouse, expanding beyond toys into television and digital gaming. His strategic initiatives included the notable acquisition of eOne in 2019, enhancing Hasbro's storytelling capabilities. Rich Stoddart, Interim CEO, and Edward M. Philip, Lead Independent Director, remembered Goldner for his remarkable influence and leadership. Hasbro pledges continued commitment to creating enriching experiences for families worldwide.

Future Today has partnered with eOne to enhance its HappyKids channel with over 300 episodes and nine movies from eOne's catalogue, featuring popular titles like My Little Pony and Transformers Prime. This partnership aims to provide millions of young viewers free access to engaging family content. HappyKids experienced a remarkable 225% year-over-year user growth in September 2020, contributing to a total of over 55,000 movies and TV shows now available. Future Today reaches more than 100 million US households, solidifying its position as a leader in family-friendly streaming.

Hasbro, Inc. (NASDAQ: HAS) announces that Brian D. Goldner is taking a medical leave of absence, effective immediately. Rich Stoddart, previously the Lead Independent Director, is appointed as Interim CEO. Stoddart, with extensive experience in brand-building and marketing, aims to advance Hasbro's Brand Blueprint strategy. Goldner expressed confidence in Stoddart's leadership during his health focus. The board also reappointed Edward M. Philip as Lead Independent Director. Hasbro remains committed to its innovative brands and future growth.

Hasbro, Inc. (NASDAQ: HAS) has appointed Carrie Ratner as Senior Vice President of Global Corporate Communications. Ratner brings over 20 years of experience, previously with PepsiCo, Starwood Hotels, and strategic advisory firm Sard Verbinnen & Co. She will lead Hasbro's corporate communications efforts, enhancing storytelling and brand visibility. This move aligns with Hasbro's 'Brand Blueprint' strategy, aimed at strengthening its extensive portfolio and corporate purpose. Hasbro has also been recognized as one of the World's Most Ethical Companies for the past decade.

Hasbro, Inc. (NASDAQ: HAS) will host its third quarter 2021 earnings conference call on October 26, 2021, at 8:30 a.m. Eastern Time. The event will follow the release of its financial results. Interested investors can access detailed financial information as per Regulation G on Hasbro’s Investor Relations website. A replay will be available approximately two hours post-event. Hasbro is known for its extensive portfolio of around 1,500 brands, including popular franchises like MAGIC: THE GATHERING and TRANSFORMERS.

On September 21, 2021, Girl Scouts of the USA and Hasbro announced a collaboration to promote friendship and inclusivity through the Better Together Challenge. Launching with the new My Little Pony: A Next Generation movie on September 24, activities aim to enhance social skills for girls in grades K-3. The initiative includes engaging projects that foster kindness and understanding among peers. Additionally, a public service announcement will highlight the importance of celebrating differences. A limited-edition fun patch will be available for participants.

Hasbro, Inc. (NASDAQ: HAS) has announced the redemption of all its 2.60% notes due November 19, 2022, amounting to $300 million. The redemption price is equal to the principal plus a make-whole premium and accrued interest. This follows a previous redemption in March 2022 of similar notes due May 15, 2021, also for $300 million. Hasbro continues to emphasize its commitment to global play and entertainment, boasting a portfolio of approximately 1,500 brands, including MAGIC: THE GATHERING and TRANSFORMERS.